Ability to send and receive any amount of money instantly, anywhere, and at any time.

Full control of your money. Bitcoin can be managed directly from your Bitcoin wallet.

Full control of transactions. With Bitcoin, you control all your transactions. No one can process unwanted or unnoticed charges.

Secure transactions. You are not required to provide sensitive or personal information with Bitcoin.

Still in the early adopter phase, the price of Bitcoin remains volatile. Overstock.com CEO Byrne explains, “There’s no risk for [Overstock.com]. We’re not holding [Bitcoin]. It’s not so much a bet on the value of Bitcoin and how it bounces around, it’s a bet that there’s a market there.”

The risks and rewards of Bitcoin market volatility will be assumed by Overstock.com partner Coinbase.com.

Coinbase is a Bitcoin wallet and platform where merchants and consumers can transact with the new digital currency bitcoin. Boasting a $25 million investment from Silicon Valley venture capital firm Andreessen Horowitz, 771,000 consumer wallets, and 19,000 merchants, Coinbase is helping Overstock.com make Bitcoin accessible to the mainstream.

Coinbase fixes the exchange rate for each transaction and instantly converts the buyer’s bitcoins into dollars. Overstock never actually holds Bitcoin, at this stage.

[…] Vice Chairman of Overstock.com Jonathan Johnson recounted that in early January, Overstock.com became the first major online retailer to accept bitcoin as payment for merchandise. On the first day, Overstock.com transacted 700 sales ($130,000) in bitcoin, and as of January 29th […]

[…] Vice Chairman of Overstock.com Jonathan Johnson recounted that in early January, Overstock.com became the first major online retailer to accept bitcoin as payment for merchandise. On the first day, Overstock.com transacted 700 sales ($130,000) in bitcoin, and as of January 29th […]